Three-Unit Auto
For Sale
$2,499,000
2206 W 15th Street, Panama City, FL 32401
An operating tire and repair business is paired with two tenant-occupied rental spaces.
Property Size9,425 SF
Price / SF$265.15
Days on Market196
Property Features for 2206 W 15th Street
General Information
Standard status
Active
Size
9,425 SF
Property subtype
Commercial
Site & Location
Corner Location
Yes
Road Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Automotive
Service Bays
5
Automotive Uses
auto repair, tire service
Tenancy & Operations
Currently Operating
Yes
Tenant in Place
Yes
Real Estate Included
Yes
Additional Details
Business Included
Yes
Building Details
Building Size
9,425 SF
Year Built
2005
Tenancy
Multi
Listing Agency:
Counts Real Estate Group Inc
Listed By:
Eddie Tarter
(850) 258-9572
Source:
Coastalheritagerealty
Added: Apr 15
Changed: Oct 26
Last Checked: Oct 26 at 12:25PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Counts Real Estate Group Inc
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2005 automotive property contains three units, including an operating tire and auto repair business and two rental spaces with long-term tenants. The main shop comes with five bay doors, lifts, compressors, and other equipment. One of the rental units has an additional bay door. A fenced outdoor area is also part of the property.
Located in Panama City, the property combines an active repair operation with two occupied rental units. The included shop equipment and multiple bay doors define the site’s automotive configuration.
Located in Panama City, the property combines an active repair operation with two occupied rental units. The included shop equipment and multiple bay doors define the site’s automotive configuration.
Key Highlights
- Three units: an operating tire and auto repair shop plus two rental spaces with long‑term tenants
- Main shop includes five bay doors, lifts, compressors, and equipment
- One rental unit has an additional bay door
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$103,203
Cap Rate
4.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,064,060
$2.1M
Cap Rate 7%
$1,474,329
$1.5M
Cap Rate 9%
$1,146,700
$1.1M
Market Conditions
NOI Build-Up for 9,425 SF
Gross rent
$160.6K $17.04/SF
− Vacancy
−$13.2K −$1.40/SF
EGI
$147.4K $15.64/SF
− OpEx
−$44.2K −$4.69/SF
NOI
$103.2K $10.95/SF
Area
Bay County, FL
Vacancy
8.20%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,064,060
Cap Rate 7%
$1,474,329
Cap Rate 9%
$1,146,700
Alternative Uses
Best Use
Retail
$1.47M
$1.29M – $1.72M
NOI $103,203 @ 7.0% cap · market cap 4.13%
Second Best
Industrial
$887.1K
$776.2K – $1.03M
NOI $62,097 @ 7.0% cap · market cap 2.48%
Theoretical Best
Office A
$2.75M
$2.40M – $3.20M
NOI $192,228 @ 7.0% cap · market cap 7.69%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
5
Service bays
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
765
Businesses Nearby
28k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 85%
Electronics 11%
Home Improvements & Furnishings 4%
Dodge's Southern Style
Shops & Services
17,269 visits/mo
0.4 miles
Family Dollar
Shops & Services
2,919 visits/mo
0.2 miles
Advance Auto Parts
Shops & Services
2,406 visits/mo
0.1 miles
Metro by T-Mobile
Electronics
1,670 visits/mo
0.1 miles
Boost Mobile
Electronics
1,485 visits/mo
0.1 miles
Demographics for 32401, FL
20,487
Population
10,239
Households
2
Avg Household Size
42
Median Age
20%
College-Educated
86%
High-School Grad
12.5 sq mi
ZIP Area
1,639
Density / Sq Mi
$49,901
Median Household Income
$35,885
Median Earnings
$1,194
Median Rent
$207,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Similar Off Market Nearby
- Premier Window Tint and Customs — 1404 Lincoln Ave, Panama City, FL 32401
- Dover Cylinder Head — 2704 15th st, panama city, fl 32401
- Bay Town Tire Pros — 2609 W 15th St, Panama City, FL 32401
- F I Motors Muffler & Auto Repair, 15th Street, Panama City, FL — 2015 15th St, Panama City, FL 32401
- Auto Care — Panama City, FL 32401
Frequently Asked Questions
What type of property is this?
Auto shop - An operating tire and repair business is paired with two tenant-occupied rental spaces.
Where is this auto shop located?
The property is located at 2206 W 15th Street Panama City, FL.
What is the asking price?
The asking price for this property is $2,499,000.
What are key features of this property?
This property features: Three units: an operating tire and auto repair shop plus two rental spaces with long‑term tenants; Main shop includes five bay doors, lifts, compressors, and equipment; One rental unit has an additional bay door
